Let's see now... #1 - they increased their net cash year over year
By selling off other assets...
So, the metric is being improperly applied... to distract from what matters.
Look at the annual numbers ?
Dec 31, 2010... Total assets were 52.486 billion
Dec 31, 2011... Total assets were 47 billion
July 19, 2012... Total assets were... ?????
(a year ago with that cash the stock was at $8)
But, a year ago, no one recognize they were going to fall into the... pit of despair...
#2 - Their network division is finally profitable and in Q3 they will be much more profitable than Q2 (margins will be much higher than Q2 as per CC)
Sounds good...
Where do I go to buy that... you know... without all the masses of other crap ?
#3 - Nokia net sales in Q2 2012 were EUR 7.5 billion, up from EUR 7.4 billion in Q1 2012
They stuffed the channel... meaning, they frontloaded sales numbers, pushing them forward just to be able to report them now... only... without recognizing the cost.
#4 - Mobile Phones Q2 volumes increased quarter-on-quarter and year-on-year to 73 million units.
Giving them away will do that...
Some of the real analysts note that, approvingly as...
NOK is losing $ and spending cash simply to preserve market presence...
I hesitate to call that "market share"... given the lack of economic value in "the share" bought.
I agree with them that NOK has to do that...
Needing to do that, and seeing them do that, still doesn't make them doing it "a good thing"...
#5 - Total smartphone sales in Q2 were 10.2mil (4mil Lumias) compared to 11.9 mil (2mil Lumias) in Q1
See #3 above...
#6 (and this is BIG!) ASPs have moved up from Q1 to 151
If the number of devices sold is up...
And the average selling price per device is up...
Then, why aren't they making money... instead of losing more of it faster, over time ?
amazon.com
amazon.com
But if they unleash a new wave of WP8 dual-core and quad-core phones in late September/early October, then I think they could have a very profitable Q4. And if they do, 2013 is going to be a very interesting year....
 |
